A minority-owned CPG business that provides premium hair and skin care products to the multi-cultural consumer was facing multiple challenges. Launched in the founders’ garage in 2014, the company grew net sales to $20 million in 2019. Unfavorable sole supplier pricing, unmanaged cash volatility regarding promotional spend, and increasing working capital needs led to borrowing base over-advances, reduced line availability, significant delinquent trade payables, and a large balance owing to its major distributor for past promotional activity.
Premium Hair and Skin Care Company
